NPIF II smaller loans

The Northern Powerhouse Investment Fund II (NPIF II) will deliver a £660m commitment of new funding through investment strategies designed to meet the needs of the businesses in the North of England. NPIF II aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. NPIF II will increase the supply and diversity of early-stage finance for smaller businesses in the North, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

The first Northern Powerhouse Investment Fund was launched in February 2017 and finished its investment phase in December 2023, having facilitated over £1bn of direct and private sector co-investment. The Northern Powerhouse Investment Fund II is the next iteration of the Fund which is larger in size and has been expanded to include the whole of the North East.

The funding option sizes have also been increased with Debt Finance now available up to £2m and Equity Finance now available up to £5m.

Yes, a company who received funding from NPIF can apply for NPIF II finance. Submit an enquiry today.

NPIF II covers the whole of the North of England, including rural, coastal and urban areas. Investments can be made in businesses that are headquartered in Yorkshire or the Humber, or have a significant operating presence there.

NPIF II has been designed to help address market failures by increasing the supply and diversity of early-stage finance for UK smaller businesses, providing funds to firms that might otherwise not receive investment. The product funds that NPIF II supports provide commercially focussed funding to businesses across the North. NPIF II’s product funds can invest alone or alongside other funders, and indeed NPIF II fund managers are encouraged to leverage-in additional private capital.

NPIF II’s product funds can invest alone or alongside other sources of debt or equity capital where appropriate.

Yes, you can still apply for NPIF funding if your company has received a BBLS or CBILS backed loan.

NPIF II will have an inclusive approach, but some eligibility criteria do apply to NPIF II funding. Contact us for advise on suitability.

Generally, the process from application to decision takes 2-3 weeks, depending on the loan's complexity and how quickly you provide all necessary documents. Your investment manager can offer more detailed information on this.

To apply for a NPIF II Smaller Loan, simply complete our enquiry form. A member of our Investment Team will respond within two working days.

We use Open Banking to help us make a decision to lend. To fast track a decision, you must grant access to your financial data using our Open Banking portal: https://connect.consents.online/BEFcommercial.

We use Open Banking to help us make a decision to lend. We only request permission to see the information we need to provide a loan to you.

To grant access, please visit https://connect.consents.online/BEFcommercial.

A Personal Guarantee is taken to back-up our loans. It is a legal promise that in the event the borrower company fails to make repayments of the loan, the lender can ask the guarantor to make payment on the borrower’s behalf.

For more information, please read our Personal Guarantee Notice.